S. Korean firm invests RM2.3bil to set up copper foil plant in Sabah

KOTA KINABALU: South Korean company SK Nexilis is injecting investment worth RM2.3bil into Sabah to set up its first overseas copper foil manufacturing plant here.

Chief Minister Datuk Seri Hajiji Noor announced this on Friday (March 5) after receiving a courtesy call from the company's entourage led by its vice president Lee Hyun Woo at Sri Gaya here.

Hajiji, who is also state Finance Minister, assured the visitors that the state government would provide all necessary assistance to facilitate the company's investment here.

SK Nexilis, a subsidiary of South Korean Fortune 500 company SKC Co, plans to build the facility at Kota Kinabalu Industrial Park (KKIP), creating 400 job opportunities.

Construction of the manufacturing plant is expected to start in July with its Sabah investment focusing on the production of electric vehicle components and bringing a positive chain reaction effect on the state’s economy.

"I hope SK Nexilis' venture into Sabah will catch the eyes of other foreign companies and those from South Korea to come and invest in the state," said Hajiji.

Also present during the courtesy call were Deputy Chief Minister and state Industrial Development Minister Datuk Dr Joachim Gunsalam, state secretary Datuk Safar Untong and officials from Invest Sabah, KKIP and the Malaysian Investment Development Authority.

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